ArmInfo. Transactions that do not exceed the threshold of 300 thousand drams, which are deductible income, are not subject to declaration as part of the general income declaration. At the same time, the threshold of 300 thousand drams applies to each transaction, and not to the amount of similar transactions, the press service of the State Revenue Committee of Armenia reports.
1. Are the incomes indicated in the declaration subject to taxation?
Not all incomes indicated in the declaration are subject to taxation. For example, if you are a taxpayer and have to file an income tax return in 2025 (for income received in 2024) and you have additional income in addition to your salary, such as transfers to your bank account, card as a gift from a family member or other person, or amounts received as a gift from abroad, indicating these amounts in the tax return: you will not have any tax liabilities.
2. Is your real estate and movable property subject to declaration? No, real estate and movable property are not subject to declaration. Only income received during the reporting year 2024 must be included in the annual income tax return.
3. Are your expenses subject to declaration? No, expenses are not subject to declaration, only income received during the reporting year 2024 must be declared.
4. Do you need to declare funds transferred to your bank account or card? The annual personal income tax return includes income received by an individual during the reporting year. Therefore, if the amounts transferred to a bank account or card are considered income received, they are filled in the relevant sections of the declaration.
Non-taxable income received as a gift, gratuitously, loan or one-time income from the alienation of property cannot be included in the declaration if it is less than 300 thousand drams. That is, if transfers were made to your bank account or card as a gift during 2024, you must also include information about these amounts in your declaration, but this income is NOT subject to taxation.
5. Should transfers between my own bank accounts be included in the declaration? No, transfers between your accounts, cards or from account to card and vice versa are NOT considered income and are NOT included in the income tax return.
6. If you transferred money from a payment terminal to your account or card, do you need to fill in this information in the return? No, if you personally made a transfer to your account or card from a payment terminal, then this is not considered income and should not be included in the return.
7. If the person filing the return is also an individual entrepreneur, should the income of the individual entrepreneur also be indicated in the return? No, income from individual entrepreneurship is considered income from entrepreneurial activity and is not included in the return.
8. If you received money from abroad in 2024, should you include these amounts in your declaration? The annual personal income tax declaration includes income received by an individual during the reporting year. Therefore, if the amounts transferred to you from abroad are considered income received, they are filled in the relevant sections of the declaration.
It should be remembered that non-taxable income received as a gift, gratuitously, loan or one-time income from the alienation of property cannot be included in the declaration if it is less than 300 thousand drams.
That is, if you received transfers from abroad as a gift during 2024, you must also include information about these amounts in your declaration, but this income is NOT subject to taxation.
9. If you are a citizen of the Republic of Armenia and received a salary from abroad in 2024, do you need to declare this income? Yes, if you are a citizen of the Republic of Armenia, permanently residing in Armenia, but work for a company located abroad, i.e. receive a salary from abroad, then you are obliged to include this income in your declaration. Moreover, this income will not be taxed in Armenia if you have already received a taxable salary from a country where the income tax is 20% or more. And if the income tax in this country is lower than 20%, you will have to pay the difference in Armenia.
10. Should income received from abroad, which has already been taxed in the country of origin, be taxed again in Armenia? If this income was taxed abroad, you will pay in Armenia the difference between the 20% of the income and the tax paid abroad on this income.
11. If a resident citizen of the Republic of Armenia received income from a person located abroad in exchange for any service, should this income be included in the declaration? Yes, income received from another individual in exchange for services is included in the declaration, regardless of whether you received this income in Armenia or abroad, and is subject to income tax at a rate of 20%.
12. Is a co-borrower required to declare a loan received jointly with the borrower? No, a co-borrower does not include information about a loan received during 2024 in the declaration.
13. Are income from deposits, debt securities (bonds), shares and units subject to declaration? Yes, if you received income from deposits, debt securities (bonds), shares and units in 2024, you are required to include this information in your declaration.
14. If you rented out your property in 2024, do you need to include income from it in your tax return? Yes, if you rented out your property to another individual in 2024, you are required to file an annual income tax return and pay 10% income tax to the state budget (in the case of minors - a parent or guardian). If for some reason you are not the filer, we only file rental income and income tax.
15. If you sold a property in 2024, do you need to include that income on your tax return? Yes, if you sold a property to another individual in 2024, you must include the income from the sale of that property, which is considered non-taxable income.
16. Should gifts be included in the declaration? If you received real estate, movable property or cash as a gift from another individual in 2024, this income is subject to declaration, but this income is NOT taxable. It should be remembered that non-taxable income received as a lump sum in the form of gifts cannot be included in the declaration if it is less than 300 thousand drams.
17. Do I need to declare cash gifts received on different occasions? Yes, if you received cash gifts from individuals on different occasions during 2024, you must also include information about these amounts in the tax return, but this income is NOT taxable. It should be remembered that non-taxable income received as a lump sum in the form of donations cannot be included in the declaration if it is less than 300 thousand drams.
18. If you loaned money to someone, is the amount returned subject to declaration? No, the amount of the loan being returned is not considered income and is not subject to declaration.
19. Are savings subject to declaration? No, savings from income received in different years are not subject to declaration (savings are not considered income received in a given year).
20. If a citizen of the RA received income in exchange for a service during 2024, should he/she declare this income? Yes, if you received income for any services in 2024, this income must also be included in the declaration, which is subject to taxation.
21. Should benefits, pensions, scholarships, etc. be included in the declaration? Yes, if you received benefits, pensions, disability or military pensions, scholarships, etc. during 2024, information about this income must be included in the declaration, but this income is NOT subject to taxation.
22. Do I need to declare one-time and monthly child care benefits, as well as alimony? If you received a lump sum and monthly payment of child support or alimony in 2024, the parent receiving that amount must include that income on their tax return when filing, but the income is NOT taxable.
23. Should winnings be included in the tax return and are they taxable? Yes, if you had winnings in 2024, you must include them in your tax return. Casino, betting and lottery winnings are NOT taxable.
24. Do I need to declare travel expense reimbursement amounts? Yes, if you were reimbursed for your travel expenses in 2024, you must include information about this income in your tax return. This income is not taxable. Please note that travel expense reimbursement amounts are supplemented if they exceed 3 million drams per year; travel expense reimbursement amounts that do not exceed 3 million drams cannot be declared.
